New data has found that South Korean firms in China are suffering a blow in sales, profit and market share. 

The Federation of Korean Industries(FKI) publicized the assessment on Monday in a report that analyzed corporate bodies’ performances since 2016. 

According to the report, sales of the top 30 South Korean companies in China, including Samsung Electronics and Hyundai Motor, slipped six-point-nine percent from 2016 to stand at some 117 trillion won last year. 

With such a drop, the firms’ share of sales in China fell three-point-five percentage points to 22-point-one percent of overseas sales in 2020 from 2016.

The report added that South Korean companies’ direct investment in China dropped some 23 percent last year from the previous year. 

Additionally, South Korean firm’s corporate bodies in China saw their operating profit margin slip from four-point-six percent in 2016 to two-point-one percent in 2019. 

FKI said the drop in sales and operating profit came as Korean companies’ market share in China in terms of key items, including automobiles, smartphones and cosmetics, are continuously shrinking.